While investing in student housing has recently become more difficult due to inventory and financial constraints, Virtus Real Estate Capital remains optimistic about the health of the sector, especially near tier-one schools.

CB Developers, SK Development and Ironstate Development are constructing 646 11th Ave. in the Hell's Kitchen neighborhood. When completed, the community will include 222 condos and 60 for-sale storage units.

SJP Properties, Northwestern Mutual Life Insurance Co. and PGIM Real Estate have finished work on The Modern in Fort Lee, which comprises 900 units and a bowling alley, an arcade room and an infinity pool.